We consider an economy where trade is decentralized and agents have incomplete information with respect to the value of … information in the economy. We also compare welfare under price dispersion and one price. Our results show that, despite the …

This paper investigates robust information transmission between a sender and a receiver in the Crawford and Sobel (1982 …

information disclosure. Our approach unifies a wide range of previous findings and generates new applications …

This book is intended as a contribution to the theory of markets with imperfect information. The subject being nearly … References -- I. Preliminaries -- Ch. 1. Information Structures -- Ch. 2. Examples of Information Structures -- Ch. 3. Some Game … Theory -- II. Oligopolistic Markets with Imperfectly Informed Buyers -- Ch. 4. The Basic Model -- Ch. 5. Symmetric Market …

access to information, but all the news acquired become automatically public. Conditional on the information disclosed, a … incomplete but symmetric information, we show that the first individual obtains rents due to his superior ability to decide … whether to collect or forego evidence, i.e., due to his control in the generation of (public) information. We provide an …